IMF director reveals his expectations for the global economy in 2023

Director of the International Monetary Fund Kristalina Georgieva believes that the global economy is entering a recovery stage and its growth will begin to accelerate in 2024.

“We believe that we have entered a recovery phase, we will be convinced of this by the end of 2023. We hope that there will be a change in the direction of the growth trajectory in 2024,” the IMF director said in a press statement. It is reported by the New York Times.

Meanwhile, Georgieva warned that 2023 could be a “difficult” year, the global economy is still in an unstable state, and the period of high inflation is not yet over.

As risk factors for the global economy, the official named the worsening situation in Ukraine and the ongoing severe restrictions in China to combat the coronavirus pandemic.

Georgieva added that the US economy is facing a “moderate downturn” or a slight recession, according to forecasts from the International Monetary Fund.

Source: News